IGNOU MA Economics Syllabus 2024 (MEC) – Download PDF

If you are searching for the latest ignou ma economics syllabus 2024, you can say mec because mec is the short form of master of arts economics. So you are at the right place.

The information given in this post can be used at the time of ignou admission and also at the time of re-registration, as re-registration is compulsory for all ignou students who are going to be entered in their next semester or year.

In this post, you will see the ignou ma economics fees structure, eligibility, duration, first and second-year MEC latest detail syllabus 2024.

IGNOU MA Economics Fees Structure 2024

  1. The full program ignou master of arts economic (mec) fees is Rs 16,800.
  2. Fees are to be paid Rs 8,400 per year.

Duration of the MEC Programme

  1. The Maximum duration of the ignou mec program is 4 years.
  2. The Minimum duration is 2 years.
  3. You can get admission for this mec course in both the July and January admission cycles.
ignou mec syllabus

IGNOU MA Economics Eligibility Criteria

To get admission in the ignou ma economics programme in 2024, you should have a Bachelor’s Degree or a higher degree from a recognized University.

IGNOU MA Economics Syllabus 2024 (MEC)

In this section, you will see the ignou ma economics syllabus 2024 (mec) for the first and second years.

As you know, in ignou, there is a credit system, and you have to complete all credits in order to get a degree.

You will see the credits below in front of all the courses in the table.

  1. The ignou mec Programme consists of a total of 66 Credits divided into 11 Courses, where 9 courses are compulsory and 2 are optional.
  2. All the courses included in the first year are mandatory.
  3. In the second year, the first four courses given in the list below (MEC6, MEC7, MEC108, and MEC109) are Compulsory, while the rest are optional.

IGNOU MA Economics First Year Syllabus 2024

In the Ist year syllabus of ignou economics, all subjects are compulsory.

Course CodeTitle of the CourseCredits
MEC 101Microeconomic Analysis06
MEC 2Macroeconomic Analysis06
MEC 103Quantitative Methods06
MEC 4Economics of Growth and Development06
MEC 105Indian Economic Policy06

IGNOU MA Economics 2nd Year Syllabus 2024

Here you see the mec or ignou ma economics second year syllabus or subjects 2024 in which some courses are compulsory and some are optional.

Compulsory Courses

Course CodeTitle of the CourseCredits
MEC 106Public Economics06
MEC 7International Trade and Finance06
MEC 108Economics of Social Sector and Environment06
MEC 109Research Methods in Economics06

Optional Courses ( Choose 12 Credits Only )

Course CodeTitle of the CourseCredits
MECE 1Econometric Methods06
MECE 3Actuarial Economics: Theory and Practice06
MECE 4Financial Institutions and Markets06
MECP 101 Project Work06
MWG 11Women in the Economy08
MGSE 9Gender Issues in Work
Employment and Productivity
MEDSE 46Development Issues and Perspectives08
Total Credits ( Ist + 2nd Year)66

Special Note: You can’t choose MGSE 9 separately in optional courses. If you want to choose MGSE 9 then you have to choose this course together either with MWG 11 or MEDSE 46 together (means choose either MGSE 9 + MWG 11 or MGSE 9 + MEDSE 46).

IGNOU MA Economics Syllabus 2024 Year Wise in detail

IGNOU MEC Ist Year Syllabus in detail

MEC 101: Microeconomic Analysis

Block 1: Consumer Behaviour

Unit 1: Theory of Consumer Behavior: Basic Themes

Unit 2: Theory of Demand

Unit 3: Theory of Demand: Recent Developments

Block 2: Producer Behaviour

Unit 4: Theory of Production

Unit 5: Theory of Cost

Unit 6: Production Economics

Block 3: Price and Output Determination

Unit 7: Perfect Competition

Unit 8: Monopoly

Unit 9: Monopolistic Competition

Unit 10: Oligopoly

Block 4: General Equilibrium

Unit 11: General Equilibrium: Pure Exchange Model

Unit 12: General Equilibrium with Production

Block 5: Welfare Economics

Unit 13: Pigovian vs. Paretian Approach

Unit 14: Social Welfare Function

Unit 15: Imperfect Market, Externality and Public Goods

Unit 16: Social Choice and Welfare

Block 6: Economics of Uncertainty

Unit 17: Choice in Uncertain Situations

Unit 18: Insurance Choice and Risk

Unit 19: Economics of Information

Block 7: Non-Cooperative Game Theory-I

Unit 20: Static Games of Complete Information

Unit 21: Static Games with Complete Information: Applications

Unit 22: Dynamic Games with Complete Information

Block 8: Non-Cooperative Game Theory II

Unit 23: Static Games of Incomplete Information (with Application to Auction)

Unit 24: Dynamic Games with Incomplete Information: Perfect Bayesian Equilibrium

Unit 25: Signaling Games and their Application

Unit 26: Refinements of Perfect Bayesian Equilibrium

MEC 2: Macroeconomic Analysis

Block 1: Traditional Approaches to Macroeconomics

Unit 1: Classical and Keynesian Approaches

Unit 2: Neoclassical Synthesis

Block 2: Economic Growth

Unit 3: The Solow Model

Unit 4: Endogenous Growth Model

Block 3: Rational Expectations

Unit 5: Rational Expectations and Economic Theory

Unit 6: Policy-Making under Uncertainty

Block 4: Inter-temporal Decision-Making

Unit 7: Consumption and Asset Prices

Unit 8: The Ramsey Model

Unit 9: The Overlapping Generations Model

Unit 10: Money & the Role of Monetary Policy

Block 5: Economic Fluctuations

Unit 11: Traditional Theories of Business Cycles

Unit 12: Real Business Cycles

Block 6: Unemployment

Unit 13: Traditional Theories

Unit 14: Search Theory and Unemployment

Unit 15: Nominal and Real Rigidities

Unit 16: New-Keynesian Theories of Unemployment

Block 7: Open-Economy Macro-Modelling

Unit 17: Flexible Exchange-Rate System

Unit 18: Fixed-Exchange Rate System

Unit 19: Sluggish Price Adjustment

MEC 103: Quantitative Methods

Block 1: Introduction to Differential Calculus

Unit 1: Set Theory

Unit 2: Functions and their Graphical Representation

Unit 3: Differential Calculus: Functions, Limit and Continuity

Block 2: Extreme Values and Optimisation

Unit 4 : Maxima and Minima

Unit 5: Unconstrained Optimisation

Unit 6: Constrained Optimisation

Block 3: Integral Calculus and Economic Dynamics

Unit 7: Integration Techniques

Unit 8: Integration and Economic Dynamics

Unit 9: Difference Equations and Applications in Economic Dynamics

Block 4: Linear Algebra and Economic Applications

Unit 10: Vector Analysis

Unit 11: Linear Algebra

Unit 12: Input-Output Analysis

Unit 13: Linear Programming

Block 5: Statistical Methods-I

Unit 14: Descriptive Statistics

Unit 15: Correlation and Regression Analysis

Unit 16: Probability Theory

Unit 17: Probability Distribution

Block 6: Statistical Methods-II

Unit 18: Sampling Theory

Unit 19: Sampling Distributions

Unit 20: Statistical Inferences

MEC 4: Economics of Growth and Development

Block 1: Economic Growth Models – I

Unit 1: Introduction to Economic Growth

Unit 2: Harrod-Domar Growth Model

Unit 3: Neo-classical Growth Models

Block 2: Economic Growth Models –II

Unit 4: Growth and Distribution

Unit 5: Total Factor Productivity and Growth Accounting

Unit 6: Technological Change and Progress

Block 3: Economic Growth Model-III

Unit 7: Models of Optimal Economic Growth

Unit 8: Multi-Sector Models of Growth

Unit 9: Endogenous Growth Models

Unit 10: Stochastic Growth Models

Block 4: Social and Institutional Aspects of Development

Unit 11: Development and Underdevelopment

Unit 12: Measurement and Indicators of Development

Unit 13: Population and Development

Unit 14: Economic Development and Institutions

Unit 15: Market Incompleteness & Informal Institutions in the Rural Economy

Block 5: Theories of Development

Unit 16: Classical Theories of Development

Unit 17: Schumpeter and Capitalistic Development

Unit 18: Theories of Underdevelopment

Block 6: Development Strategies

Unit 19: Allocation of Resources

Unit 20: Cost-Benefit Analysis

Unit 21: Role of Planning

Unit 22: Trade and Development

MEC 105: Indian Economic Policy

Block 1: Indian Economic Development: An Overview

Unit 1: Growth and Structure of Indian Economy

Unit 2: Population and Human Resources

Unit 3: Natural Resources and Environment

Unit 4: Physical Infrastructure

Block 2: Development Strategies in India

Unit 5: Policy Choices – State Planning and Markets

Unit 6: Economic Reforms in India

Unit 7: Major Developments in the Post-Economic Reforms Period

Block 3: Sectoral Developments

Unit 8: Issues plus Concerns of Indian Agriculture

Unit 9: Industrial Development in India: An Overview

Unit 10: Services Sector

Block 4: Major Issues Facing Indian Economic Policy

Unit 11: Poverty, Inequality and Inclusive Growth

Unit 12: Employment and Unemployment: Policy Implications

Unit 13: Regional Disparity in India

Block 5: Monetary and Fiscal Policies in India

Unit 14: Credit and Monetary Policy

Unit 15: Capital Market and its Regulation

Unit 16: Public Finance and Fiscal Policy

Unit 17 : Fiscal Federalism in India

Block 6: External Sector and Trade Policy

Unit 18: Foreign Trade and Balance of Payment

Unit 19 : Foriegn Capital

Unit 20: Trade Policy

Block 7: Sector Specific Policies

Unit 21: Agricultural Policy

Unit 22: Industrial Policy

Unit 23: Policies Relating to the Services Sector

Block 8: Economic Policies Implementation and Monitoring 

Unit 24: Livelihood Protection and Social Security Measures with Special References to MANREGA

Unit 25: Political Economy of Indian Development

Unit 26: Ingredients of Good Governance

IGNOU MEC 2nd year Syllabus in detail

Know, we will see the ignou mec second year subjects or syllabus in detail with blocks and their units.

MEC 106 : Public Economics

Block 1: Public Economics: Basic Concepts

Unit 1: Welfare Foundations of Economic Policies

Unit 2: Theory of Market Failure

Unit 3: Voting and Local Public Goods

Block 2: Social Choice with Collective Decision-Making

Unit 4: Arrow’s Impossibility Theorem

Unit 5: Normative Models: Equity and Justice

Unit 6: Spatial Voting Models

Block 3: Public Policy: Mechanism Design, Agenda Setting 

Unit 7: The Basics of Public Policy

Unit 8: Mechanism Design

Unit 9: International Policy Coordination

Block 4: Economics of Taxation

Unit 10: Commodity Taxes

Unit 11: Direct Taxes

Unit 12: Introduction to Optimal Taxation

Block 5: Public Debt

Unit 13: Theory of Public Debt

Unit 14: Sources of Public Debt

Unit 15: Management of Public Debt

Block 6: Fiscal Federalism

Unit 16: Fiscal Federalism and Fiscal Policy

Unit 17: Equity and Efficiency Issues

Unit 18: State and Local Goods

MEC 7: International Trade and Finance

Block 1: International Trade Theory

Unit 1: Free Trade Theory

Unit 2: Alternative Explanations of Trade

Unit 3: Free Trade and Welfare

Block 2: Trade Policy

Unit 4: Theories of Protectionism;

Unit 5: Role of WTO in Trade Policy

Unit 6: Multilateralism and Problems of Developing Countries with WTO

Block 3: Balance of Payments, BoP Adjustments, Exchange Rates

Unit 7: Balance of Payments: Introduction

Unit 8: International Monetary Systems

Unit 9: International Financial Institutions

Unit 10: International Debt and the Role of Financial Institutions

Block 4: Globalisation, Trade and Developing Countries

Unit 11: Trade and Development

Unit 12: Issues Related to Trade in Primary Commodities

Unit 13: Issues on Trade in Services (GATS)

Unit 14: Trade Negotiations under the WTO: A Historical View

Block 5: Theory of Regional Blocs

Unit 15: Regional Trading Blocs

Unit 16: International Capital Mobility & Monetary System

Block 6: International Trade plus Payments in India

Unit 17: India’s Trade Policy

Unit 18: India’s Balance of Payments

Unit 19: Trade and Development in India

MEC 108: Economics of Social Sector & Environment

Block 1: Society, Environment and Economy

Unit 1: Society, State and Market

Unit 2: Economy and Environment

Unit 3: Society and Environment

Block 2: Economics of Education

Unit 4: Demand for Educational Services

Unit 5: Supply of Educational Services

Unit 6: Determinants of Educational Services

Block 3: Economics of Health

Unit 7: Demand for Health Services

Unit 8: Supply of Health Services

Unit 9: Determinants of Health Services

Block 4: Economics of Environment

Unit 10: Demand for Environmental Resources

Unit 11: Supply of Environmental and Ecosystem Services

Unit 12: Determinants of Environmental Resources

Block 5: Sustainable Development

Unit 13: Pillars of Sustainable Development

Unit 14: Green Accounting and Environmental Cost Benefit Analysis

Unit 15: Common Property Resources Management

Block 6: Institutions and Policies

Unit 16: Education Sector

Unit 17: Health Sector

Unit 18: Environmental Sector I

Unit 19: Environmental Sector II

MEC 109: Research Methods in Economics

Block 1: Research Methodology: Issues and Perspectives

Unit 1: Research Methodology: Conceptual Foundations

Unit 2: Approaches to Scientific Knowledge

Unit 3: Models of Scientific Explanation

Unit 4: Debates on Explanation Models in Economics

Unit 5: Foundations of Qualitative Research: Interpretivism and Critical Theory Paradigm

Block 2: Research Design and Measurement

Unit 6: Research Design and Mix Methods Research

Unit 7: Data Collection & Sampling Design

Unit 8: Measurement and Scaling Techniques

Block 3: Quantitative Methods-I

Unit 9: Two-Variable Regression Models

Unit 10: Multiple Regression Models

Unit 11: Measures of Inequality

Unit 12: Construction of social sciences composite index number

Block 4: Quantitative Methods-II

Unit 13: Multivariate Analysis: Factor Analysis

Unit 14: Canonical Correlation Analysis

Unit 15: Cluster Analysis

Unit 16: Correspondence Analysis

Unit 17: Structural Equation Modelling (SEM)

Block 5: Qualitative Methods

Unit 18: Participatory Methods

Unit 19: Content Analysis

Unit 20: Action Research

Block 6: Data Base of Indian Economy

Unit 21: Macro-variable Data: National Income, Savings and Investment

Unit 22: Agricultural and Industrial Data

Unit 23: Trade and Finance

Unit 24: Social Sector

MECE 1: Econometric Methods

Block 1: Basic Econometric Theory

Unit 1: Introduction to Econometrics

Unit 2: Estimation of Two-variable Regression Model

Unit 3: Statistical Inference in Regression Models

Unit 4: Multiple Regression Model

Unit 5: Generalised Least Squares

Block 2: Treatment of Basic AssumptionsViolations

Unit 6: Multicollinearity

Unit 7: Auto Correlation

Unit 8: Heteroscedasticity

Unit 9: Errors in Variables

Block 3: Extensions of Regression Models

Unit 10: Dummy Variable Models

Unit 11: Autoregressive and Distributed Lag Models

Unit 12: Discrete Dependent Variable Models

Block 4: Simultaneous Equation Models

Unit 13: Introduction to Simultaneous Equation Models

Unit 14: Identification Problem

Unit 15: Estimation of Simultaneous Equation Models

Block 5: Multivariate Analysis

Unit 16: Introduction to Multivariate Analysis

Unit 17: Principal Component Analysis

Unit 18: Factor Analysis

MECE 3: Actuarial Economics: Theory and Practice

Block 1: Quantitative Techniques for Risk Analysis

Unit1: Applied Probability I

Unit2: Applied Probability II

Unit 3: Stochastic Process

Unit 4: Application to Finance

Block 2: Actuarial Techniques I

Unit 5: Valuing Risk Management

Unit 6: Stochastic Models in Insurance

Unit 7: Theory of Interest

Block 3: Actuarial Modelling I

Unit 8: Life Insurance

Unit 9: Collective Insurance and Company Operations

Unit 10: Insurance Pricing

Block 4: Actuarial Techniques II

Unit 11: Cash Flow Projections

Unit 12: Life Contingencies

Unit 13: Credibility Theory

Block 5: Actuarial Modelling II

Unit 14: Reinsurance

Unit 15: Extreme Value

Unit 16: Stochastic Control and Insurance

Block 6: Non-Life Reserving and Accounts

Unit 17: Reserving Techniques

Unit 18: Dynamic Financial Analysis

Block 7: Introduction to Regulation of Insurance

Unit 19: Forms of Regulation

Unit 20: Regulation of Insurance in India

MECE 4: Financial Institutions and Markets

Block 1: Role of Financial System

Unit 1: The Role of Financial Markets in the Economy

Unit 2: Money and Finance

Unit 3: Risk and Financial Assets

Unit 4: Interest Rates and Cash Flows

Block 2: Financial Markets

Unit 5: Money Markets

Unit 6: Capital and Equity Markets

Unit 7: Derivatives Markets

Unit 8: Structure of Financial Markets

Block 3: Financial Institutions

Unit 9: Financial Intermediaries

Unit 10: Commercial Banking

Unit 11: Investment Banking

Unit 12: Trading and Exchanges

Block 4: The Financial Sector and Monetary Policy

Unit 13: Money and the Economy

Unit 14: Money Creation and Central Banking

Unit 15: Interest Rate Risk

Unit 16: Credit Risk and Other Risks

Block 5: International Financial Markets

Unit 17: Exchange Rates

Unit 18: Rise and Fall of Brettonwood Institutions

Unit 19: Regional Financial Institutions

MWG 11: Women in the Economy

Block 1: Conceptualizing Women’s Work

Unit 1: Defining Work

Unit 2: Productive and Reproductive Work

Unit 3: Segmentation

Unit 4: Estimating Women’s Work

Block 2: Historiographical Issues and Debates in Women’s Work

Unit 5: International Debates

Unit 6: Indian Debates-I

Unit 7: Indian Debates-II

Unit 8: Mobilization and Resistance

Block 3: Participation

Unit 9: Issues Concerning Participation

Unit 10: Locations

Unit 11: Sectors

Unit 12: Occupation

Block 4: Migration

Unit 13: Theories and Typologies of Migration

Unit 14: Migration, Inequality and Social Change

Unit 15: Migration and Vulnerabilities to Trafficking

Unit 16: Migration and Development

Block 5: Legislation, Social Protection and Policy

Unit 17: Frameworks and Approaches

Unit 18: Important Legislation and Landmark Judgments

Unit 19: Welfare and Social Security Measures

Unit 20: Women in Planning and Social Policy

Block 6: Women and Globalization

Unit 21: Globalization and Economic Change

Unit 22: New International Division of Labour

Unit 23: Questions of Feminization and Margination

MGSE 9: Gender Issues in Work Employment and Productivity

Block 1: Gender Issues in Work

Unit 1: Gender Issues in Work

Unit 2: Valuation of Women’s Work

Unit 3: Participation of Women in Pre-industrial and Industrial Societies

Block 2: Women’s Contribution to the National Economy

Unit 4: Women in Care Economy

Unit 5: Women in Shadow Employment

Unit 6: Search Theories

Unit 7: The Indispensability of Voice Organizing for Social Protection in the Information


Unit 8: Towards a ‘Generative’ Model of Social Protection Making the Links to

Development Policy

Block 3: Gender and Labour Markets

Unit 9: Labour Market Segmentation

Unit 10: Gender Differential Impact on Labour Market

Unit 11: Wage Differentials

Unit 12: Social Security

Unit 13: Legal Responses to Work

MEDSE 46: Development Issues and Perspectives

Block 1: Development – An Overview

Unit 1: Development Introduction and Paradigm

Unit 2: Economic Development

Unit 3: Human Development

Unit 4: Political Development

Block 2: Basic Issues in Development-I

Unit 5: Population

Unit 6: Poverty

Unit 7: Inequality

Unit 8: Unemployment

Block 3: Basic Issues in Development-II

Unit 9: Social and Cultural Issues in Development

Unit 10: Development and Disparities

Unit 11: Inclusive Development

Unit 12: Marginalization

Block 4: Sectoral Issues in Development

Unit 13: Agriculture

Unit 14: Industry

Unit 15 : Infrastucture

Unit 16: Service

Block 5: Sectoral Issues in Development-II

Unit 21: Education

Unit 22: Health

Unit 23: Gender

MGSE 9: Gender Issues in Work Employment and Productivity

Block 1: Gender Issues in Work

Unit 1: Gender Issues in Work

Unit 2: Valuation of Women’s Work

Unit 3: Participation of Women in Pre-industrial and Industrial Societies.

Block 2: Women’s Contribution to the National Economy

Unit 4: Women in Care Economy

Unit 5: Women in Shadow Employment

Unit 6: Search Theories

Unit 7: The Indispensability of Voice Organizing for Social Protection in the Information Economy

Unit 8: Towards a ‘Generative’ Model of Social Protection Making the Links to Development Policy

Block 3: Gender and Labour Markets

Unit 9: Labour Market Segmentation

Unit 10: Gender Differential Impact on Labour Market

Unit 11: Wage Differentials

Unit 12: Social Security

Unit 13: Legal Responses to Work


IGNOU Mec Syllabus 2024 PDF

Here, you will get the MA economics ignou pdf or ignou mec syllabus 2024 pdf of the first and second-year syllabus in detail.

You can download the syllabus from here:

So, this is the ignou ma economics syllabus, if you have any doubt or query then please comment.

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1 Comment

  1. I have done my 12th in humanities and after that I have done my graduation with Geography can you please guide me with that can I able to do masters in economics.

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